\begin{table}[htbp]\centering
\def\sym#1{\ifmmode^{#1}\else\(^{#1}\)\fi}
\caption{Effects of increased MW - event study estimates with QCEW data \label{tab:es1}}
\begin{tabular*}{\hsize}{@{\hskip\tabcolsep\extracolsep\fill}l*{4}{c}}
\toprule
            &\multicolumn{2}{c}{1990-2019}              &\multicolumn{2}{c}{2000-2019}              \\\cmidrule(lr){2-3}\cmidrule(lr){4-5}
            &\multicolumn{1}{c}{(1)}         &\multicolumn{1}{c}{(2)}         &\multicolumn{1}{c}{(3)}         &\multicolumn{1}{c}{(4)}         \\
\midrule \\ \multicolumn{5}{l}{\textbf{A. Unweighted}} \\ & & & \\
Log wages   &       0.031\sym{***}&       0.027\sym{***}&       0.033\sym{***}&       0.032\sym{***}\\
            &     (0.008)         &     (0.006)         &     (0.008)         &     (0.006)         \\
 
 
 
Log employment rate&      -0.000         &      -0.006         &       0.016         &      -0.005         \\
            &     (0.010)         &     (0.009)         &     (0.009)         &     (0.011)         \\
 
 
 
MWE         &      -0.001         &      -0.028         &       0.067         &      -0.019         \\
            &     (0.047)         &     (0.039)         &     (0.040)         &     (0.044)         \\
 
 
 
OWE         &      -0.004         &      -0.235         &       0.487\sym{*}  &      -0.154         \\
            &     (0.335)         &     (0.331)         &     (0.258)         &     (0.347)         \\
 
\multicolumn{5}{l}{\textbf{B. Weighted by population}} \\ & & & \\
 
Log wages   &       0.020\sym{*}  &       0.019\sym{*}  &       0.024\sym{**} &       0.026\sym{***}\\
            &     (0.011)         &     (0.010)         &     (0.010)         &     (0.010)         \\
 
 
 
Log employment rate&      -0.007         &       0.000         &      -0.002         &       0.003         \\
            &     (0.006)         &     (0.005)         &     (0.006)         &     (0.006)         \\
 
 
 
MWE         &      -0.030         &       0.001         &      -0.006         &       0.009         \\
            &     (0.024)         &     (0.018)         &     (0.024)         &     (0.023)         \\
 
 
 
OWE         &      -0.381         &       0.009         &      -0.063         &       0.097         \\
            &     (0.298)         &     (0.243)         &     (0.264)         &     (0.240)         \\
\midrule
\textbf{N}  &       2,132         &      10,414         &       1,220         &       6,170         \\
            &                     &                     &                     &                     \\
\textbf{Events evaluated}&          34         &          42         &          26         &          32         \\
            &                     &                     &                     &                     \\
\textbf{Fixed effects}&                     &                     &                     &                     \\
MSCZ pair-year&                     &           Y         &                     &           Y         \\
BC pair-year&                     &                     &                     &                     \\
            &                     &                     &                     &                     \\
\textbf{Sample}&                     &                     &                     &                     \\
MSCZ pairs  &                     &           Y         &                     &           Y         \\
Border county pairs&                     &                     &                     &                     \\
 \hline\hline \end{tabular*} {\centering \caption*{\begin{footnotesize} \textit{Notes:} Estimated using specification described in equation \ref{eq:ES} using Quarterly Census of Employment and Wages data. Columns (1) and (2) use the years 1990-2019, and (3) and (4) use 2000-2019. Columns (1) and (3) use multi-state commuting-zone-by-state pairs sample and include pair-year fixed effects. Columns (2) and (4) similarly use the sample of border county pairs and also include pair-year fixed effects. Outcomes include log weekly earnings, log employment rate, minimum wage elasticity (MWE) and own wage elasticity (OWE). MWE is the IV estimate from regressing log employment rate on the log minimum wage instrumented by the event dummy. OWE is the IV estimate from regressing log employment rate on log earnings instrumented by the event dummy. Estimates in Panel A are unweighted, while estimates in Panel B are weighted using the working-age population. The estimation sample for all years includes all units that are either newly treated or are clean controls for that year. However, the number of events evaluated is calculated only from pair-years that exhibit treatment variation - i.e one side of the pair has an event start, while the other side is a clean control as defined in the text. Standard errors, reported in parentheses, are clustered at the state level. Stars indicate statistical significance as follows: \sym{*} \(p<0.10\), \sym{**} \(p<0.05\), \sym{***} \(p<0.01\) \end{footnotesize}}} \end{table} 
